Best Retail Business Accounting Software
- MyAccountant Consultant
- Apr 9, 2021
- 2 min read
Opening a retail store is a big accomplishment. Whether you have a traditional brick-and-mortar operation, or you’re going all-in with an online store (or even a combo of the two), retail lends itself especially well to scaling and delegation. This allows you, the business owner, to enjoy the profits from your business without having to be entrenched in the day-to-day operations of the store.
To enjoy any possible profits of your retail store, however, you have to remain organized and properly manage your finances—making the right retail accounting software essential for Bookkeeping for Retail store.
With this in mind, you might start your search with these options—some of the top retail accounting software solutions on the market:
1. QuickBooks Desktop
As you search for the right retail shop accounting software, there’s no doubt you’ll come across the QuickBooks suite of products. QuickBooks is one of the most popular accounting solutions for small businesses out there—and for good reason.
2. QuickBooks Online
Unlike QuickBooks Desktop, however, QuickBooks Online is web-based—meaning you can use your account anywhere you have internet access. In this way, QuickBooks Online is a much more flexible solution, making it a great choice for multi-store retail businesses, as well as online retailers. QuickBooks Bookkeeping Services helps you in manage your accounting services with Quickbooks.
3. Xero
First and foremost, as we mentioned, Xero includes unlimited users with all three of their plan options, as well as inventory management tools, among a full range of standard bookkeeping and accounting features.
Additionally, Xero’s three plans fall at a generally lower price point in comparison to QuickBooks Online, with the Early plan starting at $9 per month—although this plan limits the number of invoices, quotes, bills, and transactions you can make on a monthly basis.
The Bottom Line
Additionally, you’ll want to consider the flexibility, accessibility, and of course, affordability of any retail accounting software—especially if you have multiple locations or run an online-based business. To this end, you’ll also want to ensure that any platform you choose can integrate or work with any existing business tools you utilize, particularly your point of sale system or ecommerce software.
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